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Flint Inc. has issued three types of debt on January 1, 2020, the start of the company's fiscal year. (a) $11 million, 10-year, 14%
Flint Inc. has issued three types of debt on January 1, 2020, the start of the company's fiscal year. (a) $11 million, 10-year, 14% unsecured bonds, interest payable quarterly. Bonds were priced to yield 10%. (b) $28 million par of 10-year, zero-coupon bonds at a price to yield 10% per year. (c) $20 million, 10-year, 8% mortgage bonds, interest payable annually to yield 10%. Prepare a schedule that identifies the following items for each bond: (1) maturity value, (2) number of interest periods over life of bond, (3) stated rate per each interest period, (4) effective-interest rate per each interest period, (5) payment amount per period, and (6) present value of bonds at date of issue. (Round stated and effective rate per period to 2 decimal places, e.g. 10.25%. Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to O decimal places e.g. 58,971.) Unsecured Bonds Zero-Coupon Bonds Mortgage Bonds (1) Maturity value $ $ $ Number of (2) interest periods Stated rate (3) % % % per period
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